https://www.taxtmi.com/caselaws?id=459324 The HC sanctioned the Scheme of Arrangement for the de-merger and transfer of undertakings among four group companies, finding it beneficial for shareholders, creditors, and public interest. Meetings for equity shareholders were dispensed with due to unanimous consent, while creditor meetings approved the scheme. Objections by the Regional Director concerning asset details and accounting treatment were addressed, with the court ruling in favor of the petitioners based on legal precedents and compliance with the Companies Act, 1956. The petitions were disposed of, and costs were awarded to the Central Government's Standing Counsel. en-us Fri, 21 Dec 2012 00:00:00 +0530 Mon, 09 Dec 2024 18:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459324 The HC sanctioned the Scheme of Arrangement for the de-merger and transfer of undertakings among four group companies, finding it beneficial for shareholders, creditors, and public interest. Meetings for equity shareholders were dispensed with due to unanimous consent, while creditor meetings approved the scheme. Objections by the Regional Director concerning asset details and accounting treatment were addressed, with the court ruling in favor of the petitioners based on legal precedents and compliance with the Companies Act, 1956. The petitions were disposed of, and costs were awarded to the Central Government's Standing Counsel. Case-Laws Companies Law Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459324